Rumble Gains $775M Tether Investment; Shares Jump 45% in Pre-Market Trading

Dec 23, 2024, 11:58 AM

Rumble Inc., a right-leaning video-sharing platform committed to free speech and decentralization, has secured a $775 million strategic investment from Tether, the issuer of the USDT stablecoin. Tether purchased 103.3 million shares at $7.50 each as part of its plans to invest $2.5-3 billion in venture capital deals. The substantial investment aims to bolster Rumble's growth and support its mission of promoting uncensored digital platforms. Following the announcement, Rumble's stock (NASDAQ: RUM) surged in pre-market trading, with shares up over 45%, marking one of its best days ever. CEO Chris Pavlovski hinted at the potential integration of cryptocurrency features, such as Bitcoin tipping, directly on Rumble. Analysts suggest that the investment may alleviate investor liquidity concerns.